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The Ink Business Preferred℠ Credit Card is a fantastic new business credit card, especially useful for business with a lot of travel, advertising, and shipping expenses. It comes with a $95 annual fee, so take some time to decide whether you can get enough out of it to cover that charge. However, given the extremely lucrative sign-up bonus (worth roughly $1,000), that should be easy enough to achieve.
|Good For..||Bad For..|
|Businesses with a lot of travel, shipping and advertising expenses||Companies with low annual expenses|
|Business owners looking for a card with a high sign-up bonus|
The newly released Ink Business Preferred℠ Credit Card is one of the best business credit cards, thanks to a fantastic sign-up bonus and solid rewards on travel, shipping, internet, and advertising purchases made with social media sites and search engines. The card comes with a 3.75% rewards rate in these categories, on the first $150,000 spent in combined purchases each account anniversary year. This is significantly higher than what you can currently get with some other small business credit cards, like the Capital One® Spark® Cash Select for Business. All other purchases result in an unlimited 1.25% rewards rate.
The estimate above is based on the average small business expenditures data from Shoeboxed.com
The Ink Business Preferred℠ Credit Card comes with one of the highest bonuses of any business credit card. Users earn 80,000 bonus points after spending $5,000 on purchases in the first 3 months after account opening. That is worth approximately $1,000 toward travel rewards when redeemed through the Chase Ultimate Rewards portal.
Note that there is a $95 annual fee on the Ink Business Preferred℠ Credit Card. That means you must make sure you can get enough out of the card to cover that expense. If you qualify for the welcome bonus, it’s enough to cover your annual fee for well over 10 years. However, you should always weigh the opportunity cost of your card choice. You could always apply for a business credit card with no annual fee and a moderate sign-up bonus. Depending on how your company’s expenses and financials work, the no fee option may be significantly better or worse. You can use our business card comparison tool to figure out which would be better for your company, based on its expenditures.
Bottom Line: The Ink Business Preferred℠ Credit Card is a fantastic business credit card, with one of the best early spend bonuses available. Companies spend a lot on travel, shipping, internet, cable, and phone services and social media/search engine advertising should definitely consider applying. If you prefer getting a card with no annual fee, there are other options to consider.
The Ink Business Preferred℠ Credit Card gives cardholders 3x points on the first $150,000 combined spending on travel, shipping, advertising through search engines and social media sites, and internet/cable/phone services. All purchases that fall outside of this range will earn consumers just 1 point per dollar spent. We value a single Ultimate Rewards (UR) point at roughly $0.0125. Therefore, our estimated return for this card is between 3.75% and 1.25%. The points have the potential to be even more valuable, if you transfer them over to one of the UR transfer patterns.
|Credit Needed||Excellent Credit|
The card also awards 80,000 bonus points to any business that manages to spend at least $5,000 on purchases in the first 3 months. This is worth roughly $1,000, as long as you redeem your points as travel through the Ultimate Rewards portal. Note that only purchases will be counted towards this bonus. Things like cash advances and balance transfers will not help you meet the $5,000 requirement.
The best way to get an idea of Ink Business Preferred℠ Credit Card’s value is to compare it against other available options. We took a look at the leading business credit cards and contrasted them with the Ink Business Preferred℠ Credit Card.
The Ink Business Preferred℠ Credit Card replaced the Ink Plus® Business Credit Card, and it was mostly an improvement over the old offer. Business with more traditional expenses, like office supply purchases at shops like Office Depot, got more out of the Ink Plus® Business Credit Card’s rewards structure. This card offered 5x points per $1 on the first $50,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year. Beyond that, you also got 2x points per $1 on the first $50,000 spent in combined purchases at gas stations and hotel accommodations when purchased directly with the hotel – also capped each year. The only Chase business card that most closely resembled that offer is the Ink Business Cash℠ Credit Card, which we go over below. It is currently not clear whether current Ink Plus® Business Credit Card will have their cards changed to the Ink Business Preferred℠ Credit Card. Both cards have an ongoing annual fee of $95.
The Ink Business Cash℠ Credit Card gives users 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable services each account anniversary year. Additionally, it also awards 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each year. While these limits are significantly lower than what we see on the Ink Business Preferred℠ Credit Card, you need to consider where your business spends the most money. If you end up buying a ton of stationery products from stores like Office Depot, this card will be significantly better than the Ink Business Preferred℠ Credit Card.
The Ink Business Cash℠ Credit Card doesn’t charge any annual fee, which can be good or bad, depending on what you need. Having no annual fee means you never have to worry about this card being a net loss in terms of rewards. Any year you don’t earn at least $95 in rewards using the Ink Business Preferred℠ Credit Card, the card is actually financially detrimental to your business. However, at the same time, the points you earn with the Ink Business Cash℠ Credit Card cannot be transferred to travel partners. Therefore, you may not get as much utility out of them, as you would with the Ink Business Preferred℠ Credit Card. Having an annual fee also gives you the opportunity to earn a better bonus. The Ink Business Cash℠ Credit Card $500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening.
If you find aspects of each of these cards appealing, considering applying for both. Since the Ink Business Cash℠ Credit Card has no annual fee, it won’t burn a hole in your wallet. Furthermore, you can combine the reward points from both cards, since they both earn Ultimate Rewards. This card combo is actually high recommended, as it allows you to optimize your rewards. Use the Ink Business Cash℠ Credit Card at office supply stores, gas stations, and restaurants and the Ink Business Preferred℠ Credit Card on everything else.
The SimplyCash® Plus Business Credit Card from American Express is like a hybrid between the Ink Business Preferred℠ Credit Card and the Ink Business Cash℠ Credit Card. The SimplyCash® Plus Business Credit Card from American Express gives 5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers and comes with no annual fee. Additionally, it also 3% cash back on the category of your choice from a list of eight:
- U.S. gas stations
- U.S. restaurants
- U.S. purchases for advertising in select media
- U.S. purchases for shipping
- Airfare purchased directly from airlines
- Hotel rooms purchased directly from hotels
- Car rentals purchased from select car rental companies
- U.S. computer hardware, software, and cloud computing purchases made directly from select providers
The 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. If your company's expenses fall below that $50k limit, the SimplyCash® Plus Business Credit Card from American Express will likely be the better of the two options.
For rates and fees of the SimplyCash® Plus Business Credit Card from American Express, please click here.
You can use the tool below to help estimate the rewards the Ink Business Preferred℠ Credit Card will get your business. At the same time, this will compare your options against some other leading business credit cards. Simply click the gear icon below and enter your company’s estimated monthly expenditures.